ETRADE Capital Management LLC acquired a new stake in ArcBest Corp (NASDAQ:ARCB) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 5,886 shares of the transportation company’s stock, valued at approximately $210,000.
A number of other large investors also recently modified their holdings of ARCB. Teacher Retirement System of Texas bought a new position in ArcBest in the 4th quarter valued at approximately $294,000. Stephens Inc. AR bought a new position in ArcBest in the 3rd quarter valued at approximately $299,000. Investors Research Corp bought a new position in ArcBest in the 4th quarter valued at approximately $386,000. Crossmark Global Holdings Inc. bought a new position in ArcBest in the 3rd quarter valued at approximately $414,000. Finally, The Manufacturers Life Insurance Company lifted its stake in ArcBest by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,032 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 1,683 shares during the last quarter. 88.61% of the stock is owned by institutional investors and hedge funds.
Shares of ARCB traded down $1.80 during trading hours on Friday, hitting $31.95. 241,501 shares of the stock were exchanged, compared to its average volume of 262,443. ArcBest Corp has a fifty-two week low of $16.95 and a fifty-two week high of $39.70. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.32. The stock has a market cap of $865.40, a PE ratio of 24.02 and a beta of 1.76.
ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, January 31st. The transportation company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.07. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. The company had revenue of $710.72 million during the quarter, compared to analysts’ expectations of $723.69 million. During the same period in the prior year, the company posted $0.28 earnings per share. ArcBest’s revenue for the quarter was up 3.3% compared to the same quarter last year. sell-side analysts anticipate that ArcBest Corp will post 2.3 EPS for the current fiscal year.
Several equities analysts have issued reports on the stock. BidaskClub upgraded shares of ArcBest from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of ArcBest from a “hold” rating to a “strong-buy” rating and set a $36.00 price target for the company in a research report on Tuesday. Stifel Nicolaus upgraded shares of ArcBest from a “sell” rating to a “hold” rating and decreased their price target for the company from $35.00 to $32.00 in a research report on Monday, April 2nd. ValuEngine upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target (up from $23.00) on shares of ArcBest in a research report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.50.
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ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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